Instinet Reiterates “Buy” Rating for Mastercard Incorporated (MA)
Mastercard Incorporated (NYSE:MA)‘s stock had its “buy” rating reissued by equities research analysts at Instinet in a research note issued on Saturday. They presently have a $163.00 target price on the credit services provider’s stock, up from their prior target price of $153.00. Instinet’s target price points to a potential upside of 18.79% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Cowen and Company reaffirmed a “buy” rating and issued a $137.00 target price on shares of Mastercard in a report on Friday. Credit Suisse Group upped their target price on shares of Mastercard from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday. Nomura upped their target price on shares of Mastercard from $153.00 to $163.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $145.00 target price on shares of Mastercard in a report on Friday. Finally, Barclays PLC upped their target price on shares of Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Mastercard presently has a consensus rating of “Buy” and a consensus price target of $135.93.
Shares of Mastercard (NYSE MA) opened at 137.22 on Friday. Mastercard has a 1-year low of $97.49 and a 1-year high of $138.64. The company has a market cap of $146.13 billion, a price-to-earnings ratio of 34.05 and a beta of 1.18. The company’s 50-day moving average price is $131.41 and its 200 day moving average price is $120.91.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. Mastercard’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. On average, analysts predict that Mastercard will post $4.40 earnings per share for the current fiscal year.
In related news, major shareholder Foundation Mastercard sold 87,618 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $126.60, for a total value of $11,092,438.80. Following the completion of the transaction, the insider now owns 112,736,681 shares of the company’s stock, valued at approximately $14,272,463,814.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 850,468 shares of company stock valued at $109,574,694. 0.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new stake in Mastercard in the 1st quarter worth about $100,000. Lipe & Dalton purchased a new stake in Mastercard in the 1st quarter worth about $101,000. Chicago Partners Investment Group LLC raised its position in Mastercard by 1,365.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 874 shares during the period. Thompson Davis & CO. Inc. raised its position in Mastercard by 170.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Mastercard by 108.2% in the 1st quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 464 shares during the period. 76.10% of the stock is currently owned by institutional investors.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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